There are signs that NASDAQ:NTRA may be ready to breakout.

NATERA INC (NASDAQ:NTRA) has been identified as a Technical Breakout Setup Pattern by our stock screener. This pattern typically occurs when a stock takes a pause after a significant rise, indicating the possibility of a continuation in the trend. While it's impossible to predict with certainty, it might be beneficial to monitor NASDAQ:NTRA.

Deciphering the Technical Picture of NASDAQ:NTRA

ChartMill utilizes a proprietary algorithm to assign a Technical Rating to every stock. This rating, ranging from 0 to 10, is computed daily by analyzing a variety of technical indicators and properties.

Taking everything into account, NTRA scores 10 out of 10 in our technical rating. Both in the recent history as in the last year, NTRA has proven to be a steady performer, scoring decent points in every aspect analyzed.

• Both the short term and long term trends are positive. This is a very positive sign.
• When comparing the yearly performance of all stocks, we notice that NTRA is one of the better performing stocks in the market, outperforming 90% of all stocks.
• NTRA is one of the better performing stocks in the Biotechnology industry, it outperforms 73% of 601 stocks in the same industry.
• NTRA is currently trading near its 52 week high, which is a good sign. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.
• In the last month NTRA has a been trading in the 62.96 - 71.29 range, which is quite wide. It is currently trading near the high of this range.

For an up to date full technical analysis you can check the technical report of NTRA

How do we evaluate the setup for NASDAQ:NTRA?

ChartMill also assign a Setup Rating to every stock. With this score it is determined to what extend the stock has been trading in a range in the recent days and weeks. This score also ranges from 0 to 10 and is updated daily. The setup score evaluates various short term technical indicators. NASDAQ:NTRA scores a 9 out of 10:

NTRA has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is very little resistance above the current price. There is a support zone below the current price at 69.48, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for NTRA in the last couple of days, which is a good sign.

How can NASDAQ:NTRA be traded?

To potentially initiate a trade, it is common practice to wait for the stock to break out of the consolidation zone. This breakout signifies a potential upward movement, and traders may enter the stock at that point. Conversely, if the stock falls back below the consolidation zone, it may be sold at a loss.

Please note that this article should not be construed as trading advice. The information provided is solely based on automated technical analysis and serves to highlight technical observations. It is important to conduct your own analysis and make trading decisions based on your own judgment and responsibility.

Every day, new breakout setups can be found on ChartMill in our Breakout screener.

Disclaimer

This article should in no way be interpreted as advice in any way. The article is based on the observed metrics at the time of writing, but you should always make your own analysis and trade or invest at your own responsibility.